## What areas do you do serve in Delaware?


 


We work with all properties in Delaware that have a non-rural designation. Use this [rural designation search tool](https://www.offermarket.us/blog/rural-designation-search-tools) to see if your property is considered rural.


 


## How do DSCR loans work in Delaware?


 


The overall process of getting a DSCR Loan in Delaware is approximately as follows. You submit an application for a loan (you can get started on your loan with an [instant quote](https://www.offermarket.us/loan)) answering 14 questions about your property. An instant quote will tell you if you qualify for the loan in under 1 minute of your time. It will also show you the a preliminary interest rate and loan amount. Once you select desired LTV (which can be changed later), your quote will be converted to a Loan File for processing purposes.


 


You will have to submit documents as part of your Loan File for underwriting. Documents we may ask for will include personal and property documents such as purchase contracts, current leases, borrowing entity documents, deeds, title work (we will engage a title company or an attorney on your behalf to draw up these documents), background and credit reports (that we will order), bank statements for liquidity verification as well as other documents that may be applicable to your specific deal. Full list of requirements can be found here in [DSCR loan requirements](https://www.offermarket.us/blog/dscr-loan-requirements).


 


We will also handle all the aspects of scheduling and appraisal for you. Please note that we have a promotion, where new clients receive a 100% refund at closing for their appraisal and existing clients forever get a 50% refund for their appraisal at closing as our way to say thank you for allowing us to partner with you! Once all the loan documents are submitted, the Loan File goes through underwriting, at which point the underwriting committee may ask for additional documents depending on their discretion. Once the committee receives all the documents and approves the file, closing can be scheduled.


 


The closing, will be handled by the title company or at the office of closing attorney. Once closing is complete, funds will be wired. Post closing, the loan will be entered into servicing and you will receive information regarding setting up auto-pay or other options that may be available for your loan depending on the specific servicer's capabilities.


 


## Can you lend on properties worth less then $100k?


 


In short, no, appraisal as is value must come in at above 100k. We can only lend on properties that are less then $100k if they are in a portfolio with other properties and the portfolio's total as-is value on the appraisal is above $250k. In order to qualify for our loans, the property must appraise for at least $100k as-is at the time of the appraisal, however, total loan amount may be less then 100k, minimum loan amount is $55k.


 


## Do you do cash out refi no seasoning for Delaware loans?


 


We do offer refinance options with no seasoning requirements. Here is the general criteria for cash out refi no seasoning for Delaware loans. Easiest way to see if you qualify is to answer a few question in our [online quoter](https://www.offermarket.us/loans). It will compare all of our lending criteria against your answers and give you a response in under 1 minute without you needing to read anything. If in case you want to do it the hard way, please read on to see some of the guidelines below with a [full list of our requirements here](https://www.offermarket.us/blog/cash-out-refi-no-seasoning).


 


Minimum loan amount has to be above $55,000. Minimum As-Is value on the appraisal has to be $100,000. Between 1-4 units. Must have an active lease with proof of security deposit collected. Property condition must be [C4 or better](https://www.offermarket.us/blog/property-condition-ratings-c1-c2-c3-c4-c5-c6). Minimum credit score of 680. Credit score between 680 to 699, gets maximum LTV of 70%, credit score of 700+ gets maximum LTV of 75%. Max LTC, 100% (less than 90 days seasoning), 140% (90 to 179 days seasoning). Minimum verified rehab, 20% of purchase price (less than 90 days seasoning), n/a (90+ days seasoning). Minimum verified rehab, is an improvement that has been done to the unit to verify increase in as-is value in such as short period of time (less then 90 days) to justify the no seasoning period. Origination fee of 1 to 2 points depending on the loan amount to keep the lights on. Lender fee, $1,995 (doesn't go to OfferMarket), includes multiple fees to several different 3rd party verification services, necessary to certify the information in the Loan File for closing. Appraisal at AMC market price, we also have a promotion that new clients get 100% of their appraisal refunded at closing and 50% refund for existing clients. Time to close, 20-25 days.


 


I know this is a lot of information. You don't have to lift a finger to calculate any of this to see if you qualify, all you have to do is answer 14 simple questions about your deal and we will tell you if we are a good fit for you and what kind of deal we can offer you. To get an answer on your specific situation, please answer 14 simple questions here in our [online quoter for Delaware DSCR loans](https://www.offermarket.us/loans).


 


## Do I need to have my property insured to qualify for funding?


 


Yes, but if you don't already have insurance, we can roll it into the lending process with no extra charge or effort to you. Our insurance team works with thousands of carriers and is intimately familiar with the insurance requirements of your loan. They will be able to ether talk to the agent of your choice or find the most competitive offer without our network of carriers to complement your loan with no extra effort or expense to you. If you already have insurance, you should get an instant quote to see if we can offer you a more competitive rate and save you thousands of dollars over the lifetime of your policy. [Get you instant insurance quote](https://www.offermarket.us/insurance) here.


 


## What are the best DSCR Lender Delaware?


 


There are many DSCR lenders in Delaware and you have many options to get your loan funded. As fellow rental property investors, we built OfferMarket to be a low cost DSCR lender. We believe you should never have to wonder if you're getting the best possible terms from your lender. You should never need to waste time negotiating. That's why we provide you with our best possible term sheet every single time -- you get our lowest rate and lowest fees.


 


Your first loan with OfferMarket is the start of a long term relationship. It's our opportunity to provide you with remarkable value and prove that we deserve to be your partner on your real estate investing journey. We feel a sense of obligation to prove we deserve your business on each and every loan.


 


## Are you able to lend on rural properties?


 


We can't lend on rural properties. How can I find out, if my property is rural? Here are more detail on how to verify if your property is rural in our [Rural Designation Search Tools](https://www.offermarket.us/blog/rural-designation-search-tools). The 2 search tools are hosted by USDA Rural Development Property Eligibility and CFPB Rural and Underserved Areas Checker. Both of the tools must flag the property as none rural for it to be eligible for our funding. Use these instruction to find out [if your property is considered rural](https://www.offermarket.us/blog/rural-designation-search-tools)


## What are the requirements for a DSCR loan in Delaware?


 


If you scroll up on this page, you will see a simple checklist that details high level requirements for our DSCR loans in Delaware. If you want a more detailed quote for your specific deal, click "start" next to "apply for a DSCR loan" and our online quoting system will produce an accurate quote based on 14 questions related to your deal. Most investors are able to get a complete quote in under a minute because those 14 questions most investors will know answers to. Our most detailed [DSCR Loan Requirements](https://www.offermarket.us/blog/dscr-loan-requirements) can be found here. Once you complete an online quote, you can proceed to your Loan File, where you can peruse the Loan Terms which will detail all the fees and proceeds of the loan in one convenient interface. [Get an instant loan quote and Loan File](https://www.offermarket.us/loans)


 


Otherwise, you can read on to see common guideline breakdowns:


 


### Credit Score


 


In most cases, a 720 credit score will qualify you for the lowest interest rate and highest loan amount. We recommend protecting your credit score and striving for a 740+ score to make sure you get the best terms.


 


### No Seasoning


 


Most DSCR lenders require 6 months of seasoning. At OfferMarket, we have a no seasoning program for qualified borrowers. We also offer 90 day (3 month) seasoning for borrowers with 700+ credit score or 5+ rental experience.


 


### Rural Properties


 


Rural properties are not a good fit for DSCR loan programs. If your property is considered rural in any of the following ways, it may not be eligible:


 


- Rural designation by Federal Government (CFPB, USDA)
- Rural designation by appraiser
- Population under 10,000
- 5+ miles from a 100,000+ population center


 


Rural designation is a gray area so we recommend proceeding with caution on any purchase where the subject property checks one or more of the above bullets. We can't lend on rural properties. How can I find out, if my property is rural? Here are more detail on how to verify if your property is rural in our [Rural Designation Search Tools](https://www.offermarket.us/blog/rural-designation-search-tools). The 2 search tools are hosted by USDA Rural Development Property Eligibility and CFPB Rural and Underserved Areas Checker. Both of the tools must flag the property as not rural for it to be eligible for our funding. Use these instruction to find out [if your property is considered rural](https://www.offermarket.us/blog/rural-designation-search-tools)


 


<div style="display: grid; grid-template-columns: repeat(1, minmax(0, 1fr)); overflow: auto; white-space: nowrap;">
<table>
<thead>
<tr>
 <th>Guidelines</th>
 <th>Criteria</th>
</tr>
</thead>
<tbody>
<tr>
 <td>Max Loan Amount: Purchase</td>
 <td>80% of purchase price (20% down payment)</td>
</tr>
<tr>
 <td>Max LTV: Refi</td>
 <td>75% cash out, 80% rate and term</td>
</tr>
<tr>
 <td>Min credit Score</td>
 <td>660</td>
</tr>
<tr>
 <td>Min seasoning</td>
 <td>No seasoning or 3 months depending on experience, loan amount</td>
</tr>
<tr>
 <td>Appraisal</td>
 <td>On-site (As Is 1004/1007 for single family, As Is 1025 for 2-4 units)</td>
</tr>
<tr>
 <td>Credit report</td>
 <td><a href="https://www.offermarket.us/blog/what-is-a-tri-merge-credit-report" target="_blank" rel="noopener noreferrer">Tri merge</a></td>
</tr>
<tr>
 <td>Property location</td>
 <td><a href="https://www.offermarket.us/blog/rural-designation-search-tools" target="_blank" rel="noopener noreferrer">Non-rural</a></td>
</tr>
</tbody>
</table>
</div>


 


Full list of requirements can be found here in [DSCR loan requirements](https://www.offermarket.us/blog/dscr-loan-requirements).


 


## How to get a DSCR Loan in Delaware?


 


The easiest way to start your Delaware DSCR loan is to click the start button next to "apply for DSCR loan" banners at the top or bottom of this page. OfferMarket's team has expansive experience working with real estate investors across Delaware.


 


## What are the requirements for a DSCR loan in Delaware?


 


If you scroll up on this page, you will see a simple checklist that details high level requirements for our DSCR loans in Delaware. If you want a more detailed quote for your specific deal, click "start" next to "apply for a DSCR loan" and our online quoting system will produce an accurate quote based on 14 questions related to your deal. Most investors are able to get a complete quote in under a minute because those 14 questions most investors will know answers to. Our most detailed [DSCR Loan Requirements](https://www.offermarket.us/blog/dscr-loan-requirements) can be found here. Once you complete an online quote, you can proceed to your Loan File, where you can peruse the Loan Terms which will detail all the fees and proceeds of the loan in one convenient interface. [Get an instant loan quote and Loan File](https://www.offermarket.us/loans)


 


## Why use Delaware DSCR Loans to buy investment properties?


 


DSCR (debt-service coverage ratio) loans can help real estate investors shorten their cash cycle and grow their rental portfolios more rapidly in a few key ways. First, the higher leverage and lower down payments allowed by DSCR loans mean investors can acquire more properties with the same amount of cash on hand, rather than tying it all up in larger down payments. Additionally, the option for interest-only payments creates more positive cash flow that can be reinvested into new property acquisitions. Finally, DSCR underwriting based solely on the rental income of the property itself, rather than the investor's personal income, enables investors to scale their portfolios more quickly without running into debt-to-income ratio restrictions.

 

## What areas of Delaware are good for investment properties? 

 

Delaware, the second-smallest state in the U.S., offers a unique proposition for real estate investors. While the overall population growth is projected to be slow and steady, the state's focus on stability and affordability makes it an attractive option for renters.

 

The favorable business climate in Delaware, known for its corporation-friendly laws, attracts numerous businesses, creating a stable job market for potential renters. Compared to national averages, Delaware offers a lower cost of living, appealing to renters seeking value, which can translate into strong rental yields for investors. Additionally, Delaware's thriving tourism industry, with its beautiful beaches and historic towns, impacts rental demand in coastal areas and popular destinations, especially during peak seasons.

 

### Greater Wilmington Area

 

Wilmington is experiencing slow but steady growth, with an estimated 10,000 new residents expected in the next five years. The local economy is driven by finance (with multiple banking institutions), healthcare (ChristianaCare employing 18,000 people), and manufacturing (particularly in the chemical industry).

- 19801 (Downtown Wilmington): This revitalized downtown area features a growing entertainment district and numerous job opportunities. Rents here could see moderate increases due to demand from young professionals.
- 19710 (Brandywine Hundred): An upscale suburban area known for its excellent schools and proximity to major employers. Rents in this region could see stable growth due to limited housing availability and steady demand from families.
- 19703 (Newark): A university town with a mix of students (University of Delaware with 23,000 students) and young professionals. Rents in this neighborhood could see moderate increases due to student demand, with fluctuations during academic semesters. Proximity to Wilmington could also drive some rental increases.

### Dover Area

 

Dover is experiencing slow growth, with an estimated 5,000 new residents expected in the next five years. The local economy is supported by state government, healthcare (Bayhealth Kent General Hospital), and logistics.

 

- 19901 (Downtown Dover): This area is undergoing revitalization with a focus on arts and entertainment. Rents here could see moderate increases as demand rises.
- 19904 (Kent Acres): A family-friendly area known for its good schools and proximity to Dover. Rents in this neighborhood could see stable growth due to steady demand.
- 19903 (Milford): A growing town that attracts young professionals and families, located near Dover Air Force Base. Rents here could see moderate increases due to rising demand.

DSCR Loan Delaware

The laws of supply and demand are real, and the housing market is experiencing them at full bore.

 

A simultaneous increase in demand for suburban homes and a decrease in available supply has pushed prices up 8.5% year-over-year. 

 

## Monthly Supply Of For-Sale Houses In the United States

 

As of the date of this article's publication, for-sale housing inventory is at an all-time low at 3.3 months for August 2020.

 

<iframe src="https://fred.stlouisfed.org/graph/graph-landing.php?g=yoba&width=670&height=475" scrolling="no" frameborder="0" style="overflow:hidden; width:670px; height:525px;" allowTransparency="true" loading="lazy"></iframe> 

 

## Existing Home Sales

 

Existing home sales - home sales excluding new construction - from the National Association of Realtors shows just how active home buyers have been in the second half of 2020. The country effectively went from near 10-year lows of monthly existing home sales to 10-year highs in a matter of 3 months.

 

<iframe src='https://d3fy651gv2fhd3.cloudfront.net/embed/?s=unitedstaexihomsal&v=202012072000V20200908&d1=19210101&type=type=line&h=300&w=600' height='300' width='600' frameborder='0' scrolling='no'></iframe> source: <a href='https://tradingeconomics.com/united-states/existing-home-sales'>tradingeconomics.com</a> 

 

## 30-Year Fixed Rate Mortgage Average

 

30-year fixed rate mortgage interest rates are at all-time lows. This makes buying a home more affordable because the amount you pay in interest is lower than ever. For example, a $250,000 home financed with a 30-year mortgage at 2.75 % instead of 4.75% will cost you roughly $225 less per month. Buyers budgeting for a specific monthly expense when interest rates were higher, are now able to buy more expensive homes with savings attributable to lower interest rates. Check out our [mortgage calculator](https://www.offermarket.us/tools/mortgage-calculator) to see the effect of interest rate on monthly housing expenses.

 

<iframe src="https://fred.stlouisfed.org/graph/graph-landing.php?g=ymtM&width=670&height=475" scrolling="no" frameborder="0" style="overflow:hidden; width:670px; height:525px;" allowTransparency="true" loading="lazy"></iframe> 

 

## COVID-19 Housing Market: Cause and Effect

 

Let's list out some of the major themes occurring in the housing market:

 

- People are afraid to show their homes because of health risks => decline in listings, housing inventory
- People want to leave densely populated markets for fear of health risks => increase in demand for detached single family houses and townhomes
- People want to leave apartments with common areas for fear of health risks => increase in demand for detached single family houses and townhomes
- People need more space because they are working from home => increase in demand for larger homes
- Mortgage rates are at all-time lows => home buying demand increases, demand for more expensive houses increases, home prices increase because supply is limited

 

## Off-market real estate is more important than ever

 

The housing market is like an iceberg. Above the surface, you have your on-market for sale listings. Below the surface, you have your off-market properties. The total value of all houses in the United States is roughly $34 trillion. The total value of houses currently for sale is roughly $350 billion. Only 1% of the housing market is on-market, 99% is off-market.

 

## How do you buy off-market properties?

 

You can reach out to property owners and inquire about buying their home. This happens all the time and is commonly assisted by ​real estate wholesalers. You can buy off-market real estate with us at OfferMarket, we are a marketplace for off-market real estate.

 

## Why sell your house off-market?

 

Listing your home on-market is inconvenient and expensive. You need to choose an agent, conduct costly repairs, keep the house clean and ready for last-minute showings. If you are selling a rental property, you may choose to wait for the lease to expire which means you need to carry the cost of a vacant property for an indefinite period of time. The list of benefits of selling your house off-market goes on.

 

| Comparison | Off-Market | On-Market |
|:---------------:|:------------:|:------------------------------:|
| Market value | $34 trillion | $350 billion |
| Commission fees | Low or None | High |
| Inconvenience | Low | High |
| Condition | As-Is | Expensive repairs, concessions |
| Time to close | Fast | Slow |
| Competition | Low | High |

 

OfferMarket has created a marketplace for off-market real estate and we would love for you to participate.

Learn how housing supply shortages and increased demand are affecting home buyers and sellers. 99% of all housing inventory is off-market.

Housing Data: On-Market vs Off-Market Real Estate - OfferMarket

Housing Data: On-Market vs Off-Market Real Estate

Mount Washington is a neighborhood in Baltimore City, Maryland. Learn more about Mount Washington real estate in this market overview.

Mount Washington, Baltimore, MD 21215 - OfferMarket

Mount Washington, Baltimore, MD

Grow your real estate investing business with the most competitive DSCR loan product. OfferMarket also provides DSCR rental loans, bridge loans, hard money, fix & flip, rehab, ground up construction loans.

Rental Loans

What to fix on a house to sell:

Deciding what to fix on a house in order to sell fast and for the highest net proceeds can be a challenge. Don't you worry, we're here to share our knowledge to help you sell like a pro.

 

Most repairs and renovations deliver negative return on investment, which means every dollar you spend will result in less than $1 in increased market value. We'll help you avoid the common mistakes that destroy value in the home sale.

 

## What to fix on a house to sell: 

 

1. **Landscaping:** before you schedule your real estate photography and showings, give your house some curb appeal
2. **Paint the front door and trim:** first impressions matter, give your house a little bit of fresh paint and personality
3. **Repair major systems that could otherwise result in the buyer terminating their contract after their inspection:** avoid replacing the entire system or fixture and focus on cost-effective repairs that get items like the roof, furnace, electrical and plumbing back into working order
4. **Minor cosmetic items:** paint worn out trim, patch holes in drywall and apply matching paint (no need to re-paint since many home buyers will have a different color preference and re-paint anyway
5. **Power wash:** remove grime and biological growth from siding and deck
6. **Re-caulk tubs and showers:** remove and replace or bleach mildewed caulk
7. **Replace badly worn carpet:** if a good shampoo or steam clean just isn't going to cut it, then it's time to rip out gross carpeting and either replace with builder-grade carpeting, install luxury vinyl plank, or re-finish hardwood that may be underneath

 

For more insights, we recommend reading [Selling A House AS IS Condition](https://www.offermarket.us/guides/selling-a-house-as-is).

These are the things to fix in order to sell your house fast for the best price. There's more to learn at OfferMarket. 

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What to fix on a house to sell?

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What to fix on a house to sell:

* Takes 2 minutes, no credit pull